15 Myers Lane, Bradford, BD2 4EP

Description

Situated off Idle Road, close to the amenities available in Bradford City Centre and travelling facilities including Bradford Interchange and Bradford Forster Square Train Stations. Peel Park is also nearby. A Terrace House requiring modernisation with accommodation arranged on Three Floors.

Accommodation

Top Floor: One Room. First Floor: One Room; Bathroom/WC. Ground Floor: Living Room/Kitchen. Front Yard.

Location

Situated off Idle Road, close to the amenities available in Bradford City Centre and travelling facilities including Bradford Interchange and Bradford Forster Square Train Stations. Peel Park is also nearby.

Tenure / Property Information

Investment Analysis

The supplied sold evidence indicates a broad Myers Lane range of £60,000–£122,000: terraced sales were £88,000 in 2016, £60,000 in 2017 and £122,000 in 2022. The other sales were a semi-detached property at £102,000 and a detached property at £114,000. A reliable subject-specific GDV cannot be established because the comparable property types, dates and conditions differ, while the subject requires modernisation and its bedroom count, floor area and detailed condition are not supplied.

Investment Snapshot

Strategy Recommendation

Do not underwrite a BTL, BRRR or flip at this stage. Obtain a full inspection, detailed works quotation, special conditions and rental evidence before bidding; proceed only if the resulting total-cost and resale/rental case is demonstrably viable.

Works Required

Modernisation of the three-floor accommodation, including the living room/kitchen, two upper-floor rooms and bathroom/WC. The evidence does not specify the required elements, defects or extent of works, so no cost allowance can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The guide is £25,000 and the known buyer premium is £1,500 inclusive of VAT, giving £26,500 before refurbishment, finance, legal, seller or other completion costs. BRRR metrics cannot be calculated because refurbishment cost, supported GDV and rent are unavailable. The three-floor layout and modernisation requirement require detailed inspection and feasibility checks.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is provided. The property is vacant and requires modernisation, so achievable rent and letting readiness remain unquantified.

Flip Analysis

A flip surplus cannot be calculated because the refurbishment cost, reliable subject-specific GDV and selling allowance are unsupported. The sold comparables provide only a broad local indication and are not sufficiently consistent to underwrite resale value.

Investor Risks & Due Diligence

• The property requires modernisation, but the scope and cost of works are unknown.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• Comparable sales vary by property type, date and unreported condition, limiting GDV reliability.

• The seller may charge additional completion fees under the special conditions, but these are not supplied.

• The £25,000 guide is not a valuation and the buyer premium is payable in addition.

Recommendation

Do not underwrite a BTL, BRRR or flip at this stage. Obtain a full inspection, detailed works quotation, special conditions and rental evidence before bidding; proceed only if the resulting total-cost and resale/rental case is demonstrably viable.

Strategy Rating

Analysis Confidence

There is local completed-sale evidence and a stated guide price, but no reliable rent, floor area, bedroom count, detailed condition, refurbishment cost, GDV adjustment or seller-fee information.